Share-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of Recognition of Share-Based Compensation related to Employees |
Share-based compensation expense is recognized in cost of services, product and technology expense, and selling, general, and administrative expense, in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Share-based compensation expense |
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Cost of services |
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$ |
871 |
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$ |
556 |
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$ |
1,496 |
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$ |
1,088 |
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Product and technology expense |
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1,643 |
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1,806 |
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3,052 |
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2,609 |
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Selling, general, and administrative expense |
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2,726 |
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3,380 |
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5,122 |
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10,012 |
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Total share-based compensation expense |
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$ |
5,240 |
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$ |
5,742 |
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$ |
9,670 |
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$ |
13,709 |
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| Summary of Outstanding Stock Option Grants Issued |
A summary of the stock option activity for the six months ended June 30, 2026 is as follows:
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Options |
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Weighted Average
Exercise Price |
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Weighted Average Remaining Contractual Term |
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Aggregate Intrinsic Value |
December 31, 2025 |
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Grants outstanding |
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1,275,393 |
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$ |
5.15 |
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Grants exercised |
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(60,601 |
) |
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$ |
5.11 |
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June 30, 2026 |
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Grants outstanding |
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1,214,792 |
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$ |
5.15 |
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3.7 Years |
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$15.7 million |
June 30, 2026 |
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Grants vested |
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1,099,547 |
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$ |
5.14 |
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3.6 Years |
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$14.2 million |
June 30, 2026 |
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Grants unvested |
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115,245 |
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$ |
5.23 |
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| 2021 Equity Plan [Member] |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of Option Unit Activity |
A summary of the stock option activity for the six months ended June 30, 2026 is as follows:
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Options |
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Weighted Average
Exercise Price |
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Weighted Average Remaining Contractual Term |
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Aggregate Intrinsic Value |
December 31, 2025 |
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Grants outstanding |
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5,225,103 |
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$ |
14.52 |
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Grants issued |
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2,867,530 |
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$ |
12.19 |
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Grants exercised |
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(213,582 |
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$ |
13.45 |
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Grants cancelled/forfeited |
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(118,856 |
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$ |
12.55 |
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June 30, 2026 |
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Grants outstanding |
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7,760,195 |
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$ |
13.72 |
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7.5 Years |
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$33.9 million |
June 30, 2026 |
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Grants vested |
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3,648,546 |
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$ |
13.97 |
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5.6 Years |
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$14.9 million |
June 30, 2026 |
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Grants unvested |
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4,111,649 |
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$ |
13.49 |
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| Summary of Assumptions Applied to Establish Fair Value of Options Granted Using Black-Scholes Option Pricing Model |
The fair value for stock options granted for the six months ended June 30, 2026 was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:
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Options |
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Expected stock price volatility |
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48.64 |
% |
Risk-free interest rate |
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3.76 |
% |
Expected term (in years) |
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6.25 |
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Fair-value of the underlying unit |
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$ |
12.19 |
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| Summary of the RSU activity |
A summary of the RSU activity for the six months ended June 30, 2026 is as follows:
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Shares |
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Weighted Average
Grant Date Fair Value |
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December 31, 2025 |
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Nonvested RSUs |
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883,532 |
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$ |
16.18 |
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Granted |
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2,004,022 |
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$ |
12.26 |
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Vested |
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(217,938 |
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$ |
15.85 |
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Forfeited |
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(46,834 |
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$ |
12.83 |
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June 30, 2026 |
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Nonvested RSUs |
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2,622,782 |
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$ |
13.27 |
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| 2021 Equity Plan [Member] | Restricted Stock [Member] |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of Restricted Stock Activity |
A summary of the restricted stock activity for the six months ended June 30, 2026 is as follows:
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Shares |
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Weighted Average
Grant Date Fair Value |
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December 31, 2025 |
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Nonvested restricted stock |
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448,223 |
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$ |
11.74 |
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Vested |
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(448,223 |
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$ |
13.32 |
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June 30, 2026 |
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Nonvested restricted stock |
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— |
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$ |
- |
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| Sterling Acquisition Awards [Member] |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of the RSU activity |
A summary of the RSU activity for the six months ended June 30, 2026 is as follows:
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Shares |
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Weighted Average
Grant Date Fair Value |
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December 31, 2025 |
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Nonvested RSUs |
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9,525 |
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$ |
18.70 |
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Vested |
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(6,705 |
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$ |
18.70 |
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June 30, 2026 |
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Nonvested RSUs |
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2,820 |
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$ |
18.70 |
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| Sterling Acquisition Awards [Member] | Restricted Stock [Member] |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of Restricted Stock Activity |
A summary of the restricted stock activity for the six months ended June 30, 2026 is as follows:
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Shares |
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Weighted Average
Grant Date Fair Value |
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December 31, 2025 |
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Nonvested restricted stock |
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180,766 |
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$ |
18.70 |
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Vested |
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(131,728 |
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$ |
18.70 |
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Forfeited |
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(18,718 |
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$ |
18.70 |
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June 30, 2026 |
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Nonvested restricted stock |
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30,320 |
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$ |
18.70 |
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